Tag: Stamp Duty
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New Property Fund Hopes to Cash in on Truss’ Mini-Budget Chaos
It’s been two years since Liz Truss’s mini-budget sent shockwaves through the UK economy. Now, a new property fund is hoping to make a fortune from the chaos it caused! Special Opportunities Reit, a brand new company, is about to become the first real estate investment trust (Reit) to launch in London since 2021. They’re…
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Stamp Duty Shock – No More Discounts for Property Moguls!
Big property investors are facing a new reality: the days of getting a discount on Stamp Duty for buying multiple properties are over! The government has scrapped Multiple Dwellings Relief (MDR), a policy that allowed investors to pay stamp duty based on the average price of multiple properties. This change came into effect on June…
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Stamp Duty Slump Silver Lining for UK Homebuyers
A dip in house prices has come with an unexpected perk for prospective homebuyers—a significant reduction in stamp duty, which can mean serious savings at a crucial time. Stamp duty is a tax imposed on home purchases across the UK, with the amount varying based on the price of the property. Generally, for properties priced…
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Dubai Dreaming – A UK National’s Guide to Buying Property in the UAE
Dubai’s property market is buzzing, drawing British buyers with its no-tax perks and year-round sunshine. But what does it really take to buy a home in this bustling desert metropolis? A new guide in The Telegraph looks into everything from choosing the right broker to navigating financial requirements, helping you make informed decisions. Dubai isn’t…
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London Property Market Springs into Action
As we tentatively step into summer, albeit with unpredictable weather, London’s property market is showing promising signs of revival after a sluggish start to the year. The early months of 2024 may have dampened spirits with persistent rain and subdued market sentiment, but things are looking up. Speaking to The Telegraph, Peter Wetherell of Wetherell…
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Scottish Property Market Remains Robust Despite Tax Hurdles
Despite the hefty tax rates associated with purchasing properties in Scotland, the real estate market continues to exhibit resilience, showing strong demand among buyers. Scotland’s property tax revenue has remained consistent over the last year, amassing a total of £623.1 million, as reported by property firm DJ Alexander. This figure includes a significant contribution from…
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How the Upcoming General Election Could Affect the UK Property Market
Prime Minister Rishi Sunak has declared that a General Election will be held on Thursday, July 4th, 2024, with Parliament dissolving on May 30th. This announcement has sparked a flurry of predictions and expectations from housing experts and stakeholders about the possible effects this political milestone could have on the property market. Housing as a…
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First-Time Buyers Lead the Charge in UK Housing Market
First-time buyers are now the main protagonists in the UK housing market, significantly influencing trends and transaction volumes. According to recent data from property experts at reallymoving, the participation of these newcomers in the market has grown considerably, now representing 60% of all buyers, up from 54% in April 2023. This peak was even higher…
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Rising Costs Make London Homes a Tough Buy
Purchasing a home in London has become a daunting challenge, with mortgage costs now almost 50% higher than renting. This steep rise in costs is placing the dream of homeownership further out of reach for many, as the gap between owning and renting widens significantly. In the heart of London, particularly within its more affluent…
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Landlords Flee North East’s Buy-to-Let Market Amid Financial Strain
In the North East of England, a significant number of buy-to-let landlords are choosing to exit the property market, confronted by diminishing profits and escalating mortgage rates. The trend reflects broader economic challenges and shifting market dynamics that have made the buy-to-let investment increasingly untenable for many. Karen Whiting, an associate director at Durham-based Azets,…